Sixth buyside transaction in 2021: Mutares acquires Permasteelisa España from Permasteelisa Group as add-on for the Donges Group
- First transaction in Spain
- Leading provider of façade cladding solutions in Iberia
- Add-on investment for the Donges Group
- Target company with revenues of approx. EUR 22 million
Munich/Madrid, 2 June 2021 – Mutares SE & Co. KGaA (ISIN: DE000A2NB650) has signed an agreement to acquire Permasteelisa España from Permasteelisa Group. The acquisition is an add-on investment for the existing portfolio company Donges Group and the first transaction for Mutares in Spain. The transaction is expected to close in the third quarter 2021.
Permasteelisa España’s main activity is the design, engineering, project management, manufacture, installation and after-sales service of architectural envelopes. The target company will complement the Donges Group with its in-depth know-how and advanced and innovative solutions in the façade market. They contribute their extensive know-how to all projects, particularly when it comes to Special Features Buildings and advanced façades. This is a highly synergistic acquisition for Donges and will help to drive revenues across all companies of the Group.
The company operates in Spain and Portugal with headquarter in Madrid. In 2020 the company generated revenues of approx. EUR 22 million and employed around 80 people. With more than 50 years of experience and being a key contributor to Madrid and Barcelona’s skylines, Permasteelisa Spain is a highly regarded player in its market.
“We are excited to announce our first deal in Spain and see this as a great opportunity to further grow our presence in Iberia. Furthermore, this add-on acquisition positions the Donges Group as a truly pan-European one-stop-shop provider of complex steel structures, roofing and façades solutions, realizing maximum value,” comments Johannes Laumann, CIO of Mutares.